06.05.2020 DOW JONES Daily Analysis

06.05.2020 DOW JONES Daily Analysis

Today is a big day for the US stock market because the ADP Non-Farm Employment Change figures will be released. Basically this is the estimated change in the number of employed people during the previous month, excluding the farming industry and government and the reason why this data is important is that it gives a look at growth in employment in the country. This time the number will probably be less than forecasted which isn't very good for the currency but what investors are looking out is if the number is greater than last time or lower than last time, hopefully, it should be lower than the April release meaning that the economy is on the path to recovery and this might boost the Dow's futures. The Dow closed at $23833.09 on Tuesday making gains of more than 133 points(+0.56) The ADP report comes two days before the official Labor Department's monthly job update. On Wednesday, as of the time of this writing, the Dow was already up 200 points.